Which of the Following Expense Accounts Would Not Normally Be

question 98

Multiple Choice

Which of the following expense accounts would not normally be tested by listing all debits and examining any significant items?

• A)Legal Expense
• B)Miscellaneous Expense
• C)Repairs and Maintenance
• D)Payroll Expense.

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Definitions:

Auditing

The systematic examination and evaluation of the financial statements of an organization to ensure that records are accurate and fair, performed by an internal or external auditor.

Federal Sentencing Guidelines

Rules set forth by the federal government to determine the recommended punishment for individuals and organizations convicted of felonies and serious misdemeanors.

Self-Regulation

The ability of an individual or organization to regulate its actions and behaviors without external control, often to maintain ethical standards.